Sovereign wealth funds: National security risks in a global free trade environment

The proliferation of sovereign wealth funds (SWFs) has resulted in an unstable political, legal, and regulatory environment for this form of foreign direct investment (FDI). This article explains SWF growth over the last half‐century; discusses issues surrounding SWF “transparency” and host‐country national security risk; reviews the legal and regulatory structures governing FDI in major national economies; examines proposed regulatory approaches to structure the FDI environment; and concludes with a discussion of SWF regulatory policy recommendations addressing corporate governance principles, national security restrictions on equity investment, and investment reciprocity, and suggests recommendations for executives considering engaging an SWF investment partner. © 2009 Wiley Periodicals, Inc.     

Export Stages and Export Barriers: Revisiting Traditional Export Development

This study revisits the stage model dialogue by testing seven hypotheses on the relationship between stages of export development and the influence of export barriers. Empirical data are based on a sample of 145 New Zealand firms, and the analysis combines a six‐stage framework with an illustrative list of barriers, while going a step further than previous research by examining the effect of covariates. Empirical results demonstrate that resource constraints, marketing barriers, knowledge and experience barriers, and export‐procedure barriers are “export stage dependent.” However, regarding export‐stage‐dependent barriers, differences exist only when we compare the early to the very advanced stages of development. These results also refute the grand hypothesis, which suggests an inverse relationship between export stages and the influence of export barriers. While the stage model typology still provides a practicable basis for need‐based segmentation, it does not capture completely the heterogeneity associated with the middle stages. © 2015 Wiley Periodicals, Inc.     

Perceived Export Problems and Export Involvement:

A relatively limited amount of empirical research has focused on problems and issues pertaining to exporting from countries not associated with an advanced level of economic development. This paper reports on a systematic study of problems experienced by Greek exporting manufacturers in their trading activities with overseas distributors based in European Community (EC). In this context, an attempt is made, firstly, to investigate the underlying structure of exporting problems, and secondly, to examine the extent to which there are significant differences in perceptions of exporting problems based upon the degree of export involvement. A number of significant differences are found to exist in perceived export problems between different exporter categories in terms of export involvement. The implications of the study for business practitioners and public policy makers are highlighted, and future research directions are identified and discussed.     

Impact of Export Promotion on Export Performance:

This study empirically examines the impact of export promotional services on the export performance of manufacturing firms in Tanzania. The results suggest three broad tentative contributions to our understanding of export causal relationships: First, awareness per se of export promotional services is a poor explanatory factor of export performance. Second, as expected, usage of the services is a better explanatory factor than awareness. Third, contrary to expectations, satisfaction with the services tends to be inversely associated, though not significantly, with export performance. More empirical research elsewhere is recommended to validate these results.     

浅析我国蔬菜出口现状及策略

近年来，我国的蔬菜出口逐年加速增长，出口品种日趋多样化，出口市场日益扩大。全球蔬菜需求量的增加和加入WTO又为我国的蔬菜出口提供了新的机遇。但我国的蔬菜出口业仍然存在产品结构单一、质量较差、各出口商之间恶性竞争问题，严重影响我国蔬菜的出口。为适应当今国际蔬菜市场上发展的需要，我国应采取相应的措施，如理顺蔬菜出口管理体制、优化产品结构、提高产品质量等。     

气电集团LNG产业链:贡献清洁能源

作为一个能源央企,确保国家能源政策的贯彻执行,保障能源的长期、稳定、安全供应是企业社会责任最基本的体现。中海石油气电集团有限责任公司(以下简称气电集团)是中国海洋石油总公司的全资子公司,是中国海油统筹"两种资源、两个市场"选择发展的战略性支柱业务板块,承载着中国海油绿色发展、低碳发展、安全发展的历史使命,肩负着履行经济、政治和社会     

Penetrating Export Markets:

The results of this study are based on a survey of small-and-medium sized exporters located in Florida, focusing on their export products and markets. The study indicates that export opportunities do exist for these firms, particularly those which produce medium-and-high tech products. The size of the company, product mix, and choice of market are interrelated in terms of the ease if penetrating markets and the probably success.     

Providing assets in the sharing economy: Low childhood socioeconomic status as a barrier

In the past few decades, the modern marketplace has offered consumers a proliferation of models for consumption based on sharing and access. Extant literature provides systematic examinations of motives for consuming products through the sharing economy on the demand side, but factors that affect consumers' asset-providing decisions on the supply side remain understudied. The current paper explores whether the socioeconomic environment one grew up in might produce a long-lasting impact on willingness to sharing one’s unused assets. Results from the analysis of a national-level field dataset and six preregistered studies (combined N = 45,289) reveal that lower childhood socioeconomic status can hinder consumers’ asset-providing behavior, an effect that holds beyond the influence of other factors such as current SES and asset availability. We identify greater territorial feelings towards one’s assets as a central mechanism driving the decreased asset-providing behavior of consumers with a lower childhood socioeconomic background, and we show that asset providers’ closeness to potential borrowers attenuates the negative impact of lower childhood SES.     

Warning: Export Sharp Decline

The export of Chinese light industrial products mainly covers 19 categories of 45 sectors, including food, pa-permaking, home electrical appliances industry and etc. According to Chinese customs statistics, the export value of the light industrial products in the first four months only managed to reach US$136.7 billion, 17.8 percent drop compared with the same period last year, however 2.7 percentage points lower than the national total export decline rate.     

融资约束与中国企业出口方式选择

与直接出口相比,间接出口降低了企业出口的固定成本,但增加了出口的可变成本.本文首先在Melitz(2003)的理论框架下引入融资约束和多种出口模式,研究发现融资约束大的企业更倾向于选择间接出口模式,以节约出口固定成本和缓解融资约束.基于此,本文利用世界银行2012年中国企业调查数据实证检验了融资约束对我国企业出口模式的影响.本文发现:第一,融资约束的增加不仅增加了企业间接出口的可能性,也增加了间接出口规模;第二,对外部融资依赖较大的企业而言,融资约束的增加对企业间接出口模式和间接出口规模的影响更加明显;第三,生产率对企业出口模式的影响不明显,但企业规模、经营时间、外资和研发投入的增加降低了间接出口的概率和规模.总之,融资约束的增加迫使企业选择间接出口模式,以节约出口的固定成本,而这对外部融资依赖较大的企业更加明显.     

Export Credit Guarantees and Export Performance: An Empirical Analysis for Germany

Recent literature finds that exporters are particularly vulnerable to financial market frictions. As a consequence, exports may be lower than their efficient levels. For this reason, many countries support exporters by underwriting export credit guarantees. The empirical evidence on the effects of those policies is, however, very limited. In this paper, we use sectoral data on export credit guarantees issued by the German government. We investigate whether those guarantees indeed do increase exports and whether they remedy the export‐restricting effect of credit market imperfections both on the sectoral and on the export‐market levels. Exploiting the sectoral structure of a rich three‐way panel data set of German exports, we control for unobserved heterogeneity on the country‐year, sector‐year and country‐sector dimensions. We document a robust export‐increasing effect of guarantees. There is some evidence that the effect is larger for export markets with poor financial institutions and in sectors that rely more on external finance.     

Examining the Paths from Export Strategic Orientations to Export Performance: The Mediating Role of Export Resource Transformation Capability

Export strategic orientation research suggests that export entrepreneurial orientation (EO) and market orientation (MO) directly affect export performance. Based on the dynamic capability theory, this study hypothesizes that export resource transformation capability is an intervening factor that helps explain how EO and MO, individually and jointly, impact export performance. Using archival and survey data from small and medium‐sized exporters in the United Kingdom and Nigeria, the study finds that export resource transformation capability partially mediates the individual effects of EO and MO on export performance in both samples. Results further show that export resource transformation capability does not mediate the joint effect of EO and MO on export performance. The findings help provide a more complete understanding of how export strategic orientations might be related to export performance. © 2016 Wiley Periodicals, Inc.     

Domestic Credit and Export Diversification: Africa from a Global Perspective

ABSTRACT

As open economies, African countries need to diversify their exports for economic transformation, sustained growth, and development. Meanwhile, there has been increasing importance of development financing. Following the discussion of theoretical issues on the importance of domestic credit as a potential instrument for overcoming the liquidity constraint of developing countries, as in the case of Africa, this paper empirically explores the determinants of export diversification, with particular attention to domestic credit. The estimation is based on a five-year panel regression analysis for the 1962–2010 period involving 80 countries around the world, of which 62 are developing and 29 African countries, using as covariates variables traditionally viewed as affecting export diversification. System GMM estimates provide robust evidence supporting the importance of domestic credit for African countries, while its role in other countries seems rather marginal. In addition, human capital in the form of schooling, governance as measured by constraint on the chief executive of government, and being land-locked, all exert significant effects, as anticipated, on export diversification among African countries. However, except for governance, appropriately controlling for the interactive effect of domestic credit with ‘Africa’ yields generally insignificant impacts of these variables, together with domestic credit, on export diversification in non-African countries. These results point to the dominant role of domestic credit in Africa vis-à-vis other countries globally.     

出口持续时间对出口产品质量的影响研究

本文基于Feenstra&Romalis(2013)整理的各国出口数据,首先运用生存概率法分析各经济体SITC4位码产品的出口持续性,进而借助工具变量2SLS模型,首次就出口持续时间对出口产品质量的影响进行实证分析。结论与启示有:发达经济体产品出口持续时间对出口产品质量作用表现为"高质稳进"型正效应,而对于发展中经济而言,过长的出口持续时间则意味着产品质量的"低端锁定"和"低端下滑";出口过度依赖传统优势产品和"质量革新惰性"是近几年中国出口产品质量下降的主要原因;执行出口技术复杂度赶超战略有利于发展中国经济体出口产品质量升级,"空间型地理接近"不一定能够促进一国出口产品质量升级,"制度型地理接近"则有助于出口产品质量升级。     

Export Involvement and Channel Conflict in a Manufacturer-Intermediary Relationship

Numerous articles have been published regarding the strained relationships between highly involved export manufacturers and their international intermediaries. While channel conflict is frequently cited as a major reason for such strained trade relationships, few research studies examine the relationship between a manufacturer's export involvement and channel conflict. In this paper, we develop hypotheses linking the three major domains of export involvement to the initial stages of channel conflict. The results indicate that a manufacturer's conflict with its principal international intermediary decreases with greater manufacturer dependence on the principal intermediary, increases as resources are committed to exporting, and decreases with the manufacturer's foreign market knowledge.     

Export Expansion Process for Electronics:

This paper explores the changes in Hong Kong electronics manufacturing firms regarding the development of vertical channel integration as export marketing strategy. Analysis of data suggests that Hong Kong electronics manufacturers are increasingly utilizing foreign based channel intermediaries, and establishing internalized export departments and overseas sales offices to handle their export functions. in addition, a few cases of horizontal integration exist in the form of takeovers of Hong Kong manufacturing firms by multinationals from the United States, Japan, and the United Kingdom.